The rupee showed minor changes against the dollar on the money market on Wednesday in the process of trading activity, dealers said. The rupee moved slightly versus the dollar for buying and selling at Rs 160.00 and Rs 160.05 respectively.
In the third Asian trade, the dollar held firm on Wednesday, as a wait-and-see mood prevailed, with traders looking ahead to the outcome of the Federal Reserve's meeting later in the day when policymakers are expected to cut interest rates for the first time since 2008.
With the Fed expected to reduce its key rate by 25 basis points (bps), the main focus is on whether it will leave the door open for further policy easing to insulate the world's largest economy from slowing global growth and the fallout from trade conflicts.
The dollar index against a basket of six major currencies stood little changed at 98.055 after pulling back from a two-month high of 98.206 touched on Tuesday.
The dollar was trading against the Indian rupee at Rs 68.870, the greenback was at 4.125 versus the Malaysian ringgit and the US currency was available at 6.881 in relation to the Chinese yuan.
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Open Bid Rs.159.00
Open Offer Rs.160.00
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Bid Rate Rs.160.00
Offer Rate Rs.160.05
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Amidst fluctuating demand and supply situation in the market, the greenback moved both ways and ended for buying and selling at Rs 159.20 and Rs 159.80 against the previous closing rates of Rs 159.10 and Rs 160.20 respectively, local currency dealers said.
Moreover, the rupee stayed unchanged versus the pound sterling for buying at Rs 193.00 whereas it lost 90 paisas and ended lower for selling at Rs 194.00 against the opening rate of Rs 194.90, they added.
The dollar opened at Rs 160.10(buying) and Rs 160.20 (selling) against last rate of Rs 160.60 (buying) and Rs 160.70 (selling).
It closed at Rs 160.10(buying) and Rs 160.20 (selling).
The buying and selling rates of one tola of gold remained as Rs 84,200 (selling) and Rs 83,900 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.